The Plaza at New Westminster Sold to First Capital Realty

First Capital Realty has announced the acquisition of The Plaza at New Westminster.  The property consists of 194,000 square feet of gross leaseable area and a 422 stall paid parking garage.  The project is fully integrated with Skytrain and a bus terminal.  Tenants include Safeway, Landmark Theatres, Shoppers Drug Mart, Dollar Tree, CIBC, RBC, Starbucks and A&W.

The acquisition price was approximately $100 million with the potential for furhter performance incentives.